GIC buys Rio de Janeiro office tower

GIC buys Rio de Janeiro office tower

SINGAPORE - Singaporean sovereign wealth fund GIC Pte Ltd has agreed to buy an office building in Brazil's Rio de Janeiro for an undisclosed amount, in its first wholly owned investment in Latin America.

The building, Eco Sapucai, is expected to be completed in the first quarter of 2015, a joint company statement said on Friday.

GIC is taking over the property from Hemisferio Sul Investimentos (HSI), a private equity real estate fund manager in Brazil.

GIC has been on a shopping spree for properties. Its recent investments include an office tower in Tokyo, shopping centre in Rome and logistic properties in the United States.

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